Performance Measurement can be best understood through considering the definitions of the words ‘performance’ and ‘measurement’ according to the Baldrige Criteria:
Performance refers to output results and their outcomes obtained from processes, products, and services that permit evaluation and comparison relative to goals, standards, past results, and other organizations. Performance can be expressed in non-financial and financial terms.
Measurement refers to numerical information that quantifies input, output, and performance dimensions of processes, products, services, and the overall organization (outcomes). Performance measures might be simple (derived from one measurement) or composite.
Generally performance measurement is defined to a regular action to measure the outcomes & results of on-going activity which generate reliable data of effectives & efficiency of its performance.
We are helping enterprises to measure their procurement/SRM by developing the following program in their divisions
- Business Plan
- Mission & Vision
- Balance scorecard ( KPIs)